Using the 1995 and 1998 Survey of Consumer Finances, we provide a profile of households with high- rate home-secured loans and explore the extent to which these loans reflect risk-based pricing. We find that risk-related characteristics are determinants of having high-rate loans, but that race, marital status, age, education, region, shopping behaviors, and type of financial institution also are significant. Key words: Subprime lending, Mortgages, Home loans, Survey of Consumer Finances

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